wonky wednesday, page-33

I can't remember when I have ever seen such a continuing disparity between economists and technicians.

At turns you get the technicians ahead of the curve and slowly but surely the economists realise they were wrong.

So far the economists are still calling improving fundamentals and the technicians are getting more strident in their negativity.

We do know that the market goes through about 4 pullbacks for every genuine economic "real" situation.

It is the fact that neither side is willing to admit defeat that is strange.

Does that mean this a change of momumental dimension?

I don't know. Is there a massive capitulation by either side or does the situation mean the resolution is deferred to later in the year, perhaps August.